Marten Transport amends credit agreement: waives dividend/redemption limit to $80M in FY2022, switches to SOFR

MARTEN TRANSPORT LTD

Twelfth Amendment waives 25% net-income limit on buybacks/dividends, allows up to $80M in FY2022.
Benchmark rate converted from LIBOR to term SOFR; margins increase and are tied to cash flow leverage ratio.
Two-month interest periods eliminated; benchmark replacement mechanism added if SOFR unavailable.
Prior amendments allowed $60M (FY2020) and $80M (FY2021) for restricted payments; extended to FY2022.

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